We’d all like to make our money stretch a little further. But sometimes this is easier said than done. It’s particularly true these days, when wages are low and the cost of living is high, that making the most of our finances often takes a back seat to simply covering our basic expenses. But nevertheless, there are many ways by which we can help our money to work harder for us, by simply following some basic dos and don’ts.

DO

Make a personal money management plan. This will help you to identify what money you have coming in, what expenses you have, and how you can increase one whilst reducing the other.

DON’T

Make your money management plan too complicated. One of the most basic tenets of learning better money management is to keep it simple. Trying too hard to track every penny will leave you frustrated and unmotivated.

DO

Be pro-active about finding ways to maximise your income. Part time jobs or freelance work can be incredibly beneficial. Some people even choose to have a home clear out, to sell all of the things they don’t need. And other people even decide to go the whole hog and downsize to a smaller property, by using property management agents to find them a good deal.

DON’T

Keep your head in the sand about your money troubles. Doing so won’t make them go away, and they’re actually more likely to grow and multiply if you ignore them. Instead, take stock of your finances, and keep a level head about what you need to do to make your money work harder for you.

DO

Talk to an experienced professional about how you can improve your income. There are plenty of free advice lines and financial services which are available to people struggling with money problems. Make use of these services and you’ll find that you’re better able to make use of your money.

DON’T

Get complacent. Good money management is about setting up a plan for the long term, to give you the tools you need to maximise your finances for the rest of your life – not just for the short term. By making the most of your money today, you’ll be able to get yourself into a habit of good saving and wise spending, which will set you and your loved ones in good stead for the future.